Apple drops ~10% as Cook's final call flags memory crisis
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- Apple stock slid nearly 10%, putting the $300 support level at risk after a guidance miss.
- Tim Cook used his final Apple earnings call to flag a memory shortage as an impact on the company.
- Cook described memory chip pricing dynamics as a '100-year flood,' signaling acute supply-side cost pressure.
- The guidance miss and memory warning arrive on the same session as Cook's farewell earnings call, handing his successor an immediate cost-squeeze problem.
Why it matters: Apple shareholders absorbed roughly a 10% one-day hit on a guidance miss — the kind of single-session move that resets institutional positioning — and Cook's parting '100-year flood' framing of memory-chip pricing means the next CEO inherits a supply-side cost story that will dominate the next quarter's margin narrative.
